Housing Wire

DECEMBER 11, 2023

When affordability meets fair housing Recently, during a coaching session with an agent, that agent shared how a recent seller, Bob, sold his home of 20 years and made so much money on the sale that he was able to purchase a retirement home in Savannah, Georgia, and have plenty of money left over for a nice retirement nest egg.

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Housing Wire

MARCH 27, 2024

These are all untrue and offensive words that come up when searching “Realtors” or “Real estate agents.” And before getting my real estate license in 2009, I had the same opinion, too. Next, the discussion of real estate agent commissions has been longstanding.

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Real Estate Agent Real Estate Agents Sellers 353

Housing Wire

MAY 10, 2021

The severe lack of inventory in today’s housing market has been a source of stress for home buyers and real estate agents alike. HousingWire sat down with Realtor.com CEO David Doctorow to learn how agents and brokers can alleviate some of the frustrations their clients are facing.

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Real Estate Agent Real Estate Agents Marketing 468

Housing Wire

OCTOBER 9, 2023

If you’re interested in becoming a real estate agent in Illinois, you’ll be happy to hear that the path to getting your real estate license in the Prairie State doesn’t require as much of a time commitment as other states. 1] As a real estate broker in Illinois, it is not legal for you to work independently.

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Real Estate Agent Real Estate Agents Brokerage 448

Housing Wire

JANUARY 2, 2024

Filed last Wednesday in the Western District of Missouri, the Umpa suit, named after its lead and only plaintiff Daniel Umpa, accuses the real estate industry of allegedly colluding to artificially inflate real estate agent commissions.

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Sellers Brokerage Real Estate Realtors 448

Housing Wire

OCTOBER 23, 2023

Just prior to the plaintiffs resting their case late Monday afternoon, HomeServices of America , one of the three remaining defendants in the commission lawsuit , filed a motion for judgment as a matter of law. King also said that Keller Williams does not tell agents what commission to charge. million real estate licensees in the U.S.,

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Law Agents Realtors Contracts 459

Housing Wire

AUGUST 1, 2024

But it will be their sellers who make the decision on an offer of compensation to a buyer broker. In the agreement, sellers have the option to choose to pay their listing broker an exact dollar amount, a percentage of the gross purchase price of the property or an undefined “Other.”

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Housing Wire

AUGUST 1, 2024

“We were given a few months to kind of play all of this out in our minds, and then with like two weeks of notice, we get hit with all the forms and how procedures will work in our state — because every state has its own laws, which changes what the settlement looks like in each state,” VantHof said.

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Real Estate Agent Real Estate Agents Business 448

Housing Wire

JULY 17, 2023

In such an environment, buyers may feel pressure to bypass steps in the transaction to make their bid more attractive to the seller, but they should be wary that taking shortcuts can expose them to fraud. Secret Service reported a steep rise in seller impersonation in an advisory it issued this year. We can reverse this trend.

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Sellers Real Estate Agent Real Estate Insurance 370

Housing Wire

APRIL 15, 2024

The GSEs noted that this guidance was not an update to their selling guides but a clarification on the treatment of seller-paid real estate agent fees. ” The American Real Estate Association (AREA), a startup trade organization, also was pleased by Monday’s announcement.

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Buyers Agents Real Estate Agent Sellers 532

Housing Wire

MAY 26, 2023

Secret Service , notified the title industry of a rise in what is known as vacant lot fraud, or seller impersonation fraud. “We We started to hear a lot about seller impersonation fraud early on in the year,” Tyler Adams, the CEO of CertifID, said. “We Oftentimes this leads to the discovery of vacant lots. million, according to NAR.

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Sellers Real Estate Realtors Real Estate Agent 397

Housing Wire

MAY 21, 2024

The United States Department of Veterans Affairs will soon release a circular that “bridges the gap” on an agency law that prohibits a VA buyer from paying their real estate agent compensation, a VA official announced on Tuesday.

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Buyers Agents Real Estate Agent Real Estate 523

Housing Wire

SEPTEMBER 5, 2024

These anti-discrimination statutes make it illegal to refuse to rent, sell or lease housing because of a lawful source of income being provided. An accessible checklist on the FHA website would give home sellers, buyers, housing counselors, real estate agents and others a reliable source of information, according to the report.

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Housing Wire

MARCH 28, 2024

At the moment, IPCs “include concessions from the seller to the buyer for items that are traditionally paid by the buyer such as loan closing costs or rate buy-downs,” but as buyer agents are customarily paid by the listing agent, their fees are excluded from caps on the IPCs. Sellers or buyers can pay the buyer’s agent’s fees.

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Real Estate Agent Sellers Buyers Real Estate 476

Housing Wire

SEPTEMBER 18, 2024

Yet referrals are one of the best ways new agents can close more deals and earn more money. Real estate referral fees are also a fantastic way for experienced and busy agents to get a nice paycheck without doing much work. Other real estate referral sources The Bottom Line What is a real estate referral?

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Real Estate Real Estate Agent Agents Brokerage 468

Housing Wire

APRIL 26, 2024

FHA will move forward with its proposal that permits contributions by the property seller, real estate agent, builder, or developer to HECM for Purchase borrowers’ closing costs,” the update said. Still, I’ll take what we got.”

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Real Estate Agent Development Real Estate Sellers 488

Housing Wire

AUGUST 22, 2024

Filed in Florida in late April, the Lutz suit accuses HomeServices and its subsidiaries, BHH Affiliates and HSF Affiliates , of conspiring to artificially inflate real estate agent commissions. home sellers) pursuing the same injunctive relief that Plaintiff seeks here,” the filing states.

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Law Real Estate Agent Real Estate Brokerage 434

Housing Wire

MARCH 18, 2022

The success of iBuyers is the failure of real estate agents. After all, iBuying companies Opendoor , Redfin and formerly Zillow are predicated on home sellers eschewing a listing agent and selling their home to the company. So far, Offerpad’s agents have played a bit role in the company’s growth.

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Agents Real Estate Agent Real Estate Sellers 435

Housing Wire

JANUARY 18, 2024

The suit, known as Fierro, after its lead plaintiff Gael Fierro, a Californian home seller, accuses the real estate industry of colluding to artificially inflate real estate agent commissions. Patrick Thurber, a California home seller, is an additional named plaintiff in the suit.

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Realtors Brokerage Real Estate Realty 533

Housing Wire

MARCH 28, 2024

Originally filed in March 2019, the Moehrl lawsuit alleges that real estate industry participants including HomeServices, the National Association of Realtors (NAR), Anywhere , RE/MAX and Keller Williams conspired to artificially inflate real estate agent commissions.

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Real Estate Agent Realtors Real Estate Sellers 458

Housing Wire

NOVEMBER 1, 2023

Just hours after securing a victory for his home seller clients in the landmark Sitzer/Burnett commission lawsuit, Michael Ketchmark, the lead attorney for the plaintiffs, filed another class action antitrust lawsuit against some of the real estate industry’s biggest players, in U.S. District Court for Western Missouri.

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Real Estate Brokerage Sellers Law 448

Housing Wire

AUGUST 12, 2024

In the suit, the plaintiffs allege that the “compulsory membership in these associations” is a violation of antitrust laws, as well as an example of “economic coercion, unfair restraint on trade and conspiracy.”

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Real Estate Realtors Agents Real Estate Agent 501

Housing Wire

MAY 1, 2024

Less than a week after HomeServices of America settled the home seller commission lawsuits for $250 million , the firm again finds itself in the crosshairs of antitrust litigation. Lutz, a resident of Colorado, purchased a home in Key Colony, Florida, in 2021 with the help of a buyer’s agent employed by a HomeServices of America franchise.

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Sellers Real Estate Agent Realtors Real Estate 468

Housing Wire

OCTOBER 27, 2023

Real estate commissions always have fluctuated given the market conditions and, according to RealTrends , commission rates are currently well below where they were in the ‘90s. Sellers get access to the largest pool of buyers and the chance to sell their home for 35% more on average than for sale by owner.

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Real Estate Agent Real Estate Realtors Buyers 488

Housing Wire

DECEMBER 12, 2023

A home seller plaintiff in California filed an antitrust lawsuit on Friday in U.S. District Court for Northern California, accusing the real estate industry of colluding to artificially inflate real estate agent commissions. The copycat commission lawsuits have made it to the West Coast.

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Realtors Sellers Real Estate Buyers 476

Housing Wire

JUNE 11, 2024

According to the reply brief, MLS PIN believes that the DOJ’s core position is that “no settlement should be approved unless it affirmatively prohibits home sellers from offering compensation to buyer-side brokers — no matter whether the offer occurs on the MLS or off it (for example, on a broker’s website).” District Court in Boston.

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Legal Law Real Estate Real Estate Agent 459

Housing Wire

NOVEMBER 3, 2023

With the seamless integration of the homegenius Platform, consumers can: Connect with experienced real estate agents. The homegenius Platform provides users access to a number of services including: homegenius connect, which allows homebuyers and sellers to access a network of qualified and experienced real estate professionals.

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Real Estate Agent Real Estate Insurance Valuation 435

Housing Wire

MAY 21, 2024

Work with a real estate professional with MLS access In non-disclosure states, the role of real estate agents becomes even more crucial. Experienced agents have access to databases, networks, and resources that can help buyers gather information about recent sales in the area.

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Real Estate Agent Real Estate Inspection Valuation 488

Housing Wire

APRIL 3, 2024

The Community Home Lenders of America (CHLA) this week submitted a letter to the Federal Housing Administration (FHA) that urges the agency to “provide comparable down payment treatment for FHA borrowers, regardless of whether or not the seller is willing to pay the home buyer broker commission,” according to an announcement by the organization.

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Sellers Buyers Real Estate Agent Agents 459

Housing Wire

DECEMBER 15, 2023

A copycat commission lawsuit filed on Thursday by home sellers in the United States District Court for the Eastern District of Texas, accuses 47 real estate industry defendants of allegedly conspiring to artificially inflate real estate agent commissions. As the saying goes, everything is bigger in Texas.

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Real Estate Realtors Realty Real Estate Agent 493

Housing Wire

NOVEMBER 8, 2023

31, 2023, the Gibson lawsuit pits three Missouri home sellers, Don Gibson, Lauren Criss and John Meiners, against National Association of Realtors , Compass , eXp World Holdings , Redfin , Weichert Realtors , United Real Estate , Howard Hanna and Douglas Elliman. Accepted by the court on Oct.

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Real Estate Sellers Real Estate Agent Realtors 459

Housing Wire

JANUARY 16, 2024

The first was a motion for judgement as a matter of law and the second was a motion for a new trial. They also testified to the importance and value of the MLS as a core service that agents provide to sellers and buyers. The desire to use agents has gone up in the information age, not down.

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Agents Law Sellers Legal 448

Housing Wire

APRIL 11, 2024

“They could certainly intervene in the settlement negotiations, but they are not a party — they are just a party of interest,” said Paul Rogers, a professor of law who specializes in antitrust at Southern Methodist University’s Dedman School of Law. “It

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Real Estate Law Realtors Legal 497

Housing Wire

NOVEMBER 2, 2022

The housing industry, from servicers to real estate agents and more, will feel the impacts of this year’s hurricane season far beyond 2022. Real estate agents and insurance agents are looking for data and information to help their customers better understand flood risk and then take action by buying flood insurance.

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Real Estate Agent Insurance Mortgage Real Estate 418

Appraisal Buzz

JUNE 17, 2024

Understanding the Settlement The lawsuit that prompted this settlement was initiated by seller who felt they were unfairly treated in the real estate commission process. Traditionally, it has been expected that when hiring an agent to assist in selling a home, there would also be a 3% commission to the seller agent.

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Appraisal Real Estate Agent Valuation Real Estate 370

Housing Wire

NOVEMBER 5, 2024

The removal of offers of buyer broker compensation from most MLSs across the country — as mandated by the National Association of Realtors’ (NAR) commission lawsuit settlement agreement — was a massive change for real estate agents and brokers. But they aren’t the only housing professionals impacted by these changes.

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Appraisal Business Real Estate Agent Real Estate 370

Housing Wire

AUGUST 8, 2024

Now they will have to come up with payment for real estate agent services, but that may be challenging for some who are already challenged in terms of coming up with enough down payment,” Hepp said of first-time buyers. “So, So, say it gets rolled into their mortgage or they have to get another loan to pay it off.

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Housing Market Marketing Mortgage Sellers 488